Our operating performance | Maritime design and consultancy Market context During the reporting year, the maritime design market was shaped by a number of key trends. The drive towards sustainability and decarbonisation saw our customers becoming increasingly interested in reducing greenhouse gas emissions through both the use of alternative fuels (including LNG, hydrogen, and biofuels) and the adoption of hybrid and fully electric propulsion systems. The stricter international regulations introduced by the International Maritime Organisation (IMO), which are driving compliance, in vessel design, addressing carbon emissions, ballast water management and adherence to stricter emission control areas (ECAs). Innovation in hull design and materials continued at pace, aimed at improving fuel efficiency and reducing environmental impact, encouraging the development of smart ships featuring advanced navigation and monitoring systems, with data analytics becoming more prevalent. The integration of digital technologies, such as the Internet of Things (IoT), artificial intelligence (AI) and remote monitoring systems, is enabling the rapid advancement of autonomous and semi-autonomous vessels. This revolution is a core focus for our growth and requires us to ensure we are ready to address all aspects of designing and operating these new platforms. The expansion of the offshore wind energy sector drove demand for specialised vessels like SOVs and larger CTVs, which need to be capable of operating in challenging sea conditions. Global security challenges prompted many governments to modernise their naval fleets, focusing on versatile platforms that blend commercial and defence applications. Additionally, the maritime industry had to adapt to supply chain disruptions and geopolitical tensions, influencing trends in shipbuilding locations, material sourcing and contingency planning in vessel design. Performance Thanks to the hard work and expertise of our teams we reached the preliminary design review milestone of our largest ever contract – the Royal Navy’s FSS programme – on time and to expectations. Through our own internal innovation investment, we developed a mini-SOV, which has attracted market interest, notably in Asia Pacific. Our relationship with two Singaporean shipyards – Penguin and Strategic Marine – continues to flourish, with our core designs forming the backbone of a global offering. This was cemented by the signing of a new From innovative ship designs and expert surveys to high-value vessel performance improvements, we help customers and their cargoes to arrive safely, effectively and on time. long-term agreement with Strategic Marine to continue to provide engineering design support for CTVs. The fast ferry market, especially in the US, has remained weak but there are early signs of improvement as operators seek to replace platforms with hybrid variants. In the UK, our focus on customer relationships has paid dividends in the form of greater engagement and project wins with the UK Border Force. The commercial maritime design consulting market in Asia Pacific saw growth in the demand for ferry and offshore wind vessel designs, with many new enquiries. This area of the market shows strong potential for business growth for us in the region. Strategy and organisation We have continued to reassess, reorganise and refine our organisational structure, as well as our approach to market and resource deployment. This has not only placed greater emphasis on delivery discipline, but it also provides greater autonomy for our front-line operations, making our teams better able to respond more quickly to customers’ needs. Operationally, we continued to enhance our processes and support functions to deliver better services at lower costs for customers. Throughout the first half of the year, our Ship Design Campaign focused on core sales, driven by the commercial technical sales team, and the development of new concepts. We continue to invest in process innovation, including the use of AI in ship design. Our work with machine learning has improved response times, reduced costs, and enhanced output quality. Hull form development has seen the greatest Highlights Advancing design Our innovative 48m SOV design delivers safety, comfort and efficiency while minimising environmental impact. Featuring a methanol-ready design, an optimised hull form, and a dynamic diesel-electric platform, the vessel reduces operational emissions and enhances fuel efficiency. These unique features underscore our commitment to advancing offshore vessel technology. (right) “This vessel is not just a response to current demands but is a proactive step into the future of offshore operations.” Martin Bissuel, Head of Sales, UK and Europe, BMT success, with tools now used in projects like the BMT Ellida vessel design concept. Parametric geometry models allow us to automatically generate thousands of hullform variations to minimise resistance. AI is not here to replace human expertise but to support it. Applied to specific challenges, it can boost productivity and outcomes while preserving creativity and judgement. As customer demand increases, and all our regional teams grow their capabilities to meet that demand, we are increasingly seeing skills as a global resource and are focusing on applying them optimally across the business. Similarly, innovation activity is being carefully aligned to prospects and market trends. In the marine investigations business, we continue to carefully listen and respond to our customers’ demands and our focus on the finance sector is seeing more upstream demand with longer-term contracts. Faster and safer We worked closely with Turkish shipbuilder ARES to design innovative new Fast Crew Transfer Vessels (FCTVs) for Turkish Petroleum. The 20-metre long FCTVs are built from aluminium and can reach a speed of 47 knots. Their state-ofthe-art Dynamic Positioning (DP) system makes the transfer of crew to offshore platforms safer and more efficient. (left) BMT REMBRANDT success continues Our BMT REMBRANDT maritime simulator reached another milestone during the year, as all five of its latest bridge simulators achieved DNV Class A accreditation, enabling us to further expand its training services internationally. BMT Group Ltd | Review of performance 23-24 26 27
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